Foreclosure
Halted
Ms. S. entered a home equity loan that
turned out to be a high cost loan as defined by the Home Ownership and Equity Protection Act and the
Kentucky High Cost Home Loan Act. In an attempt to prevent these two important consumer protection
statutes from applying to the loan, the lender had disguised some of the fees.
When Ms. S. was unable to make her payments, the lender foreclosed.
AppalReD counseled defense of the
foreclosure. AppalReD filed defenses and counterclaims based on the two high cost loans statutes, in
addition to usury and other state law claims. The foreclosure was resolved when Ms. S. paid the lender a portion of the note in exchange for release of the
note and mortgage.
Unfair Home Loans
AppalReD’s mission is to ensure that homeowners can be protected from predatory mortgage loans and unfair, deceptive, or misleading lending practices. AppalReD can provide assistance
to help ensure that needy homeowners can keep their homes despite the unlawful practices of some lenders.